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Chapter 13 Archives

When Chapter 13 bankruptcy is the best debt consolidation plan

Debt consolidation can help some people in Oregon to combine all their debts into one manageable monthly payment. One common method of consolidating debt is through a home equity loan. This method is helpful to those who have good credit and plenty of collateral. However, taking on more debt is a temptation to many who have more income at their disposal as a result of this type of debt relief. In addition, even if a person is able to pay off all debts with a single loan, the length of time required to pay the new debt is usually much longer than that of the original loans.

Oregon is second worst place in the U.S. to earn a living

When people fall on hard times, as many did during the recent recession, financial challenges often lead to debts that are not easily overcome. The sudden loss of an income or a workplace injury can leave a person with no recourse to pay creditors. Although the country is reportedly moving past the economic crisis, across the nation, states have not recovered equally. Based on data gathered on living expenses and employment, Oregon is number two on the top 10 list for worst places in the United States to make a living.

Is Chapter 13 bankruptcy the right debt relief option for you?

If you are like many people in Oregon who are struggling with debt, then you may have considered filing for bankruptcy. For some, however, the number of bankruptcy options available to individuals can complicate the decision. At The Law Office of Kim Covington, we often consult with people who are unsure which option is right for their situation. In this post then, we will discuss how to know if filing for Chapter 13 bankruptcy is right for you.

How does chapter 13 bankruptcy work for individuals?

The loss of a job, a change in your wages or any other number of factors can cause you to experience financial difficulties. If you are like others in Lane County who have been faced with such difficulties, you may have considered debt relief options, such as bankruptcy, to help you regain control of your finances. While chapter 7 filings are generally the most common, filing for chapter 13 bankruptcy may be better suited for your situation and needs.

How does Chapter 13 work for a small business?

The ability to run a small business is a dream come true for many people, and can be a rewarding experience. Unfortunately, many small business owners in Eugene are experiencing financial difficulties due to today’s tough economy. It can be heartbreaking if you’re thinking about shutting down your beloved company because you aren’t able to pay the bills. Fortunately, there are some options that you can consider before closing the doors for good on your small business.

Avoid repossession or foreclosure by filing for bankruptcy

If you are considering filing for bankruptcy, you may be concerned about things such as foreclosure or repossession. These negative things are most commonly associated with bankruptcy. However, this is one good reason for you to look into Chapter 13 bankruptcy when you are considering filing.

What do you need before your bankruptcy meeting?

Filing for bankruptcy can be a big step to make. It is important for a person who wants to file for bankruptcy to go into their first meeting having an idea of what they want to aim for. This will make the rest of the process flow much more smoothly, making it easier for all parties involved.

The easy fix of payday loans can cause difficult problems

People who suffer from financial challenges may be tempted to pay their bills through the quick fix of a payday loan. This type of loan can look particularly attractive to people after a personal bankruptcy, when it can be difficult for a while to get approved for credit. However, payday loans can be a dangerous financial trap, especially for Oregon residents who are putting their lives back together after a Chapter 7 or Chapter 13 bankruptcy.

What does it mean to file for Chapter 13 bankruptcy?

Last week we discussed the benefits and limitations of filing for Chapter 7 bankruptcy. While Chapter 7 is the more common of the two main types of personal bankruptcy for Oregon residents, you may find Chapter 13 to be a better fit, depending on your own circumstances. Again, like Chapter 7, Chapter 13 has its own set of rules.

Student loan debt triples in the U.S. over the past decade

For years since the Great Recession, consumers in Oregon and throughout the country have struggled with financial difficulties that have included unemployment, bankruptcy, foreclosure and car repossession. It has long been a part of the American dream to avoid these types of challenges by getting a good education in order to obtain a high-paying job that can allow a family to purchase a nice home and live in comfort. Unfortunately, during uncertain times not even a quality education is guaranteed to protect someone from hardships.

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The Law Office of Kim Covington is a debt relief agency, and I have helped families, individuals and small businesses, file for bankruptcy relief under the U.S. Bankruptcy Code, for over 19 years.

The Law Office of Kim Covington

The Law Office of Kim Covington
1445 Willamette Street, Suite 9
Eugene, OR 97401

Toll Free: 800-673-1891
Phone: 541-393-2790
Fax: 541-344-6466
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P: 541-393-2790

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